A guaranty to the effect that an obligation is good or is collectible imports that the debtor is solvent and that the demand is collectible by the usual legal proceedings, if taken with reasonable diligence.
S.D. Codified Laws § 56-1-12
Guaranty that obligation is good or collectible
Source: SDC 1939, § 26.0108.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.